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EU Member States Push Back Against Plan To Cut Gas Use

ENERGY SECURITY

Brussels is facing stiff resistance from EU members opposed to EU Commission plans to set voluntary gas usage targets, which could be made binding in the event of a gas emergency.

  • According to Reuters, the proposal is being opposed by France, Italy, the Netherland, and Poland.
  • The EU is expected to offer a series of exemptions to sweeten the deal. According to Reuters, one such exemption would be to island countries which aren't plugged into the European gas network including Malta, Ireland, and Iceland.
  • States with large volumes of gas in storage, and those, like Spain, who export gas, may also be exempted.
  • The proposal will require majority support to make the gas cuts binding.
  • Polish Climate Minister Anna Moskwa said that imposing gas limits is "totally against the idea of energy security and democracy."
  • The 'extraordinary Transport, Telecommunications and Energy Council will take place tomorrow beginning at 01:45 ET/07:45 CET with the first press conference scheduled for 08:00 ET/13:00 CET.
  • The proposal can be read in full here: https://eur-lex.europa.eu/legal-content/EN/TXT/?ur...
Political Market NewsPolitical RiskCommoditiesPolitical Risk BulletEnergy Bullets
Political Market NewsPolitical RiskCommoditiesPolitical Risk BulletEnergy Bullets

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